MID-SHIP Negotiates Charter Party Agreements Sample Clauses

MID-SHIP Negotiates Charter Party Agreements. On February 8, 2010, MID-SHIP’s subsidiary in China (“MID-SHIP China”) negotiated a charter party agreement between two non-U.S. companies for the carriage of coking coal between foreign ports (referred to hereafter as the “February 2010 Charter Party Agreement”). The M/V Haadi was ultimately nominated as the performing vessel under the February 2010 Charter Party Agreement prior to the vessel being publicly identified as blocked property by OFAC and added to the SDN List on June 16, 2010.2 Although OFAC had not publicly identified the M/V Haadi at the time MID-SHIP China negotiated the February 2010 Charter Party Agreement and performance of the voyage was completed, MID-SHIP received and was in possession of documents connecting the M/V Haadi 2 A person whose property and interests in property are blocked has an interest in all property and interests in property of an entity in which it owns, directly or indirectly, a 50 percent or greater interest. The property and interests in property of such an entity are blocked regardless of whether the entity itself is listed in the annex to an Executive order or otherwise placed on OFAC’s SDN List. Blocking of property or interests in property immediately imposes an across-the-board prohibition against transfers or dealings of any kind with regard to the property or interests in property. by its IMO number (9387798) to an Iranian company not on the SDN List at that time. These documents, which included a Lloyd’s Register Safety Management Certificate and a Lloyd’s Register International Ship Security Certificate, identified Soroush Sarzamin Asatir Shipmanagement Company (“Soroush Sarzamin”)3 located in Tehran, Iran as a company associated with the M/V Haadi. Separately, on April 22, 2010 and April 30, 2010, MID-SHIP’s foreign subsidiary in Turkey (“MID-SHIP Turkey”) and MID-SHIP China negotiated two charter party agreements between non-U.S. companies for the carriage of steel coils from several foreign ports to one foreign port (referred to hereafter as the “April 2010 Charter Party Agreements”). It was agreed upon — subsequent to the April 22, 2010 agreement and prior to the April 30, 2010 agreement — that the M/V Xxxxxx would be the performing vessel for the April 2010 Charter Party Agreements.
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